On Tuesday 8 September, the Government announced expansion of the Active Investor Plus (AIP) investment pathway to include Build to Rent, marking a significant step forward for an asset class that Property Council has long advocated to be better recognised and supported.
What’s been announced?
The Government announced that the 5 Million Growth category of Active Investor Plus (AIP) can include investment in Build to Rent as an asset class.
Build to Rent investment will be accessible through managed funds approved by Invest New Zealand. The Balanced category will continue to allow investment across a broader range of property developments, including both residential and commercial projects. However, direct investment into Build to Rent developments will not be permitted.
Changes are expected to kick in from December 2026.
What does Property Council think?
The expansion of the AIP pathway is an important recognition of the role Build to Rent can play in New Zealand’s housing system. Build to rent provides professionally managed, long-term rental housing at scale, offering renters greater choice and long-term security, while improving the supply of quality rental homes.
Property Council have long been advocating for the greater recognition of build to rent for overseas investment. We want to see Build to Rent better incentivised, streamlined and recognised as an important part of New Zealand’s housing mix. This has included letters to the Minister and a targeted consultation late last year where Property Council specifically advocated for the growth pathway to be expanded to Build to Rent.
Property Council has also been working hard to build the profile of the asset class through our Build to Rent Tracker, which provides visibility of developments across New Zealand, demonstrating the growing uptake of this model.
What's Next
- In December 2026, applicants will officially be able to invest in Build to Rent through the AIP 5 million growth category.
- Before December, we can expect some more detail on the Build to Rent requirements.
Want to hear more and stay up to date on the latest? Contact Bella to join our Build to Rent taskforce.
Author | Bella Leddy
As a Senior Advocacy Advisor, Bella leads the development of policy and advocacy initiatives that reflect the real-world experience of our members.
With a Bachelor of Laws and Politics from Otago University and previous experience as a policy intern at the Department of Internal Affairs, Bella brings both a sharp analytical mind and a genuine passion for public policy. She’s particularly energised by engaging with members to ensure our advocacy is grounded in industry insight and practical solutions.
Extroverted, thoughtful and service-focused, Bella thrives in roles that connect people and ideas. Outside the office, she channels her energy into teaching group fitness classes – including yoga, pilates and spin – and is always up for a good political yarn.
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